Sunday, August 26, 2007


CARACAS 08 01 07

Venezuela's oil company PDVSA said Tuesday, it will begin with Cuba's CUPET a jointly exploring effort to discover oil in Cuban waters in the first such venture between the two nations.

PDVSA, added in a statement that the project between PDVSA CVP and CUPET covers 10,000 square kilometers (3,860 square miles) and is scheduled to begin Wednesday.

The companies expect to discover light crude after conducting a seismic study, PDVSA said.

"Ascertaining the presence of deposits of light crude oil in volumes able to keep a high production potential is expected," said PDVSA.

Petroleumworld 31 07 07

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